Teekay LNG Announces Updates on Required Approvals for Merger With Stonepeak

Hamilton, Bermuda - Dec. 01, 2021




Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) today announced that at a special meeting of common unitholders of the Partnership held on December 1, 2021, its common unitholders voted to approve the proposed acquisition by merger of Teekay LNG by Stonepeak Limestone Holdings LP (formerly known as Stonepeak Infrastructure Fund IV Cayman (AIV III) LP) (Stonepeak).

In addition, Teekay LNG has received all required customer approvals to complete the merger.

Upon closing of the merger, Teekay LNG’s common unitholders will receive $17.00 per common unit in cash. The merger is currently anticipated to close in mid-January 2022.

About Teekay LNG
Teekay LNG is one of the world's largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 21 mid-size LPG carriers, and seven multi-gas carriers.

Teekay LNG's ownership interests in these vessels range from 20 to 100 percent. In addition, Teekay LNG owns a 30 percent interest in an LNG regasification terminal.

Teekay LNG is a publicly traded master limited partnership formed by Teekay Corporation (NYSE: TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG’s common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

Teekay LNG Partners L.P. press release